LaSalle buys another London office

LaSalle Investment Management is in contract to buy the 6.39-acre freehold island site East India Docks estate in London’s Docklands in a £170 million ($259.9 million) deal with Criterion Capital.

East India Docks, located in London’s Canary Wharf submarket, is a 600,00-square-foot office complex, totaling four buildings: Anchorage House, Capastan House, Lighterman House and Mulberry House.

In May, Criterion proposed plans for the first phase of a 1.3 million-square-foot residential-led redevelopment of the site and outlined plans for three phases. In phase one of the Docklands development, the Anchorage House office will be replaced with nearly 350,000 square feet of new space, more than 300,000 square feet of which will be residential.

The existing buildings will be demolished and replaced with towers. Office blocks in East India Dock — including the current Tower Hamlets Council Town Hall — will be transformed into hom